Start at the rear first. It sounds like you would be okay deviating from original. Think of want your final outcome wishes now and then move forward. I had a 235 with a open drive shaft 3 speed and it ran with plenty of power. It was my daily driver for about 6 years. I had a 55 Chevy car 3:08 gears in in with five lug. I put 49 car front drums on it so that I could have five lug all the way around. I took it on the freeway and stayed around 65. Make sure that you overhaul your brakes from the master cylinder to the drums, including new hoses. Make sure your king pins and shocks are good too. Check your steering box, tires, rims and emergency brakes while you are at it.